Iran Boosts Imports From Iraq for Balancing Bilateral Transactions

Iran has dramatically increased imports from Iraq. 
The neighboring country exported a total of 1.99 million tons of goods worth $920.48 million to Iran during the first 10 months of the current Iranian year (March 21, 2021-Jan. 20), registering a staggering rise of 2,414% and 793% in weight and value respectively compared with the similar period of last year, according to the spokesperson of the Islamic Republic of Iran Customs Administration.
“During the same period of last year, we imported close to 80,000 tons of goods valued at $103 million from this western neighbor. In talks with Iraqi officials, we have come to an agreement to balance our bilateral trade exchanges, therefore Iran is taking measures to meet a bigger part of its domestic demand from Iraq,” Rouhollah Latifi was also quoted as saying by ILNA.